US and LATAM Functional Shots Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Product (Energy, Immunity, Detox, and Others) and Distribution Channel (Hypermarkets and Supermarkets, Convenience Stores, Online, and Others)
Market Introduction
Functional shots are nonalcoholic beverages typically available in a wide range of varieties, and are customized to provide the desired quantity of carbohydrates, electrolytes, minerals, vitamins, dietary fibers, and probiotics. A few of the widely available functional shots are sports and energy drinks, yogurt, enhanced water, fruit juice, and ready-to-drink (RTD) teas. They are made by using ingredients such as onion, ginger, black pepper, beetroot, garlic, mushrooms, and algae.
Functional shots are gaining popularity among individuals and athletes participating in physical fitness activities. The millennial population are showing a strong interest in sports, as well as they have a tendency toward fitness, more purchasing power, and a desire to buy healthier goods. In the recent years, people have been increasingly inclined toward physical fitness; therefore, the number of health clubs and fitness centres is increasing significantly. The rising number of fitness centres is one of the factors driving the demand for functional shots. Many millennial customers are becoming health-conscious when it comes to consuming soft drinks or any other drink. As a result of the highly reported backlash against sugar, consumers are becoming increasingly aware of the advantages and consequences of the products used in their beverages. All these factors are bolstering the growth of the US & LATAM functional shots market.
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Market Overview and Dynamics
The US & LATAM functional shots market was valued at US$ 2,309.25 million in 2019 and is projected to reach US$ 3,465.42 million by 2027; it is expected to grow at a CAGR of 5.2% from 2020 to 2027. The rise in popularity of the functional shots has motivated the manufacturers to boost the production volume and undertake investment in research and development and new product development of functional shots with an exotic taste that could suit consumer needs. The rise in industrial field expenditures and increasingly intense competition, and the growing adoption of functional shots as healthy drinks have driven the demand for new product launches. The key manufacturers have been financing on this opportunity by packaging their products more conveniently to make them easier to consume on the go and increase shelf life. The factors such as flexible products matching consumer needs, innovative concepts, and busy lifestyles are anticipated to benefit market growth. Besides, the key players in the market are launching new products with a unique combination of organic or natural ingredients, which is further boosting the demand of functional shots in the market. Manufacturers are experimenting with several elements, texture, flavour, and nutritional ingredients. For instance, In March 2020, Vive Organic launched two varieties of 100% organic functional shots under the brand names Electro Restore and Energy + Focus. The company says that these shots contain more electrolytes than the luxury sports drinks. In addition, such materials are known to be rich in magnesium and trace minerals. As more audiences become familiar with health benefits, functional shots manufacturers will have the opportunity to partner with qualified creators to deliver flavours from all over the world to their consumers in the US.
Key Market Segments
Based on product type, the US & LATAM functional shots market is segmented into energy, immunity, detox, and others. The energy segment led the market with the largest share in 2019. Based on distribution channel, the US & LATAM functional shots market is segmented into hypermarkets and supermarkets, convenience stores, online, and others. The convenience stores led the US & LATAM functional shots market with a highest market share in 2019.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the US & LATAM functional shots market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Boise Juice Co.; Ethan's; Hawaiian OLA; KOR SHOTS; Lumen; LXR Biotech, LLC.; Project Juice; Sofresco USA; SUJA LIFE, LLC; and Vive-Organic, INC.
Reasons to buy report
- Progressive industry trends in the US & LATAM functional shots market to help players develop effective long-term strategies
- Business growth strategies adopted by developed and developing markets
- Quantitative analysis of the US & LATAM functional shots market from 2017 to 2027
- Estimation of the demand for US & LATAM Functional Shots across various industries
- PEST analysis to illustrate the efficacy of buyers and suppliers operating in the industry to predict market growth
- Recent developments to understand the competitive market scenario and the demand for US & LATAM Functional Shots
- Market trends and outlook coupled with factors driving and restraining the growth of the US & LATAM functional shots market
- Decision-making process by understanding strategies that underpin commercial interest with regard to US & LATAM Functional Shots market growth
- US & LATAM functional shots market size at various nodes of market
- Detailed overview and segmentation of the US & LATAM functional shots market as well as its dynamics in the industry
- US & LATAM functional shots market size in various regions with promising growth opportunities
US & LATAM FUNCTIONAL SHOTS MARKET SEGMENTATION
- Energy
- Immunity
- Detox
- Others
- Hypermarkets and Supermarkets
- Convenience Stores
- Online
- Others
By Country
- US
- Mexico
- Peru
- Ecuador
- Colombia
- Rest of LATAM
Company Profiles
- Boise Juice Co.
- Ethan's
- Hawaiian OLA
- KOR SHOTS
- Lumen
- LXR Biotech, LLC.
- Project Juice
- Sofresco USA
- SUJA LIFE, LLC
- Vive-Organic, INC.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
3.2.1 Data Collection:
3.2.2 Primary Interviews:
3.2.3 Hypothesis formulation:
3.2.4 Macro-economic factor analysis:
3.2.5 Developing base number:
3.2.6 Data Triangulation:
3.2.7 Country level data:
3.2.8 Assumptions and Limitations:
4. LATAM Functional Shots Market Overview
4.1 LATAM: Functional Shots Market Analysis and Forecast to 2027
4.1.1 LATAM: Functional Shots Market, by Product
4.1.2 LATAM: Functional Shots Market, by Distribution Channel
4.1.3 LATAM: Functional Shots Market, by Key Country
4.1.3.1 Mexico: Functional Shots Market– Analysis and Forecast to 2027
4.1.3.1.1 Mexico: Functional Shots Market, by Product
4.1.3.1.2 Mexico: Functional Shots Market, by Distribution Channel
4.1.3.2 Peru: Functional Shots Market– Analysis and Forecast to 2027
4.1.3.2.1 Peru: Functional Shots Market, by Product
4.1.3.2.2 Peru: Functional Shots Market, by Distribution Channel
4.1.3.3 Ecuador: Functional Shots Market– Analysis and Forecast to 2027
4.1.3.3.1 Ecuador: Functional Shots Market, by Product
4.1.3.3.2 Ecuador: Functional Shots Market, by Distribution Channel
4.1.3.4 Colombia: Functional Shots Market– Analysis and Forecast to 2027
4.1.3.4.1 Colombia: Functional Shots Market, by Product
4.1.3.4.2 Colombia: Functional Shots Market, by Distribution Channel
4.1.3.5 Rest of LATAM: Functional Shots Market– Analysis and Forecast to 2027
4.1.3.5.1 Rest of LATAM: Functional Shots Market, by Product
4.1.3.5.2 Rest of LATAM: Functional Shots Market, by Distribution Channel
5. Functional Shots Market– Key Market Dynamics
5.1 Market Drivers
5.1.1 Increase in Health Awareness Among Millennial Population
5.1.2 Rise in Demand for Healthy Hydration
5.2 Market Restraints
5.2.1 Challenges Related To Flavour and Fortification
5.3 Market Opportunities:
5.3.1 New Product Launches
5.4 Future Trends:
5.4.1 Growing Demand for Organic and Plant- Based Functional Shots
5.5 Impact Analysis
6. Functional Shots: Market Analysis
6.1 US & LATAM: Functional Shots Market Overview
6.2 US: Functional Shots Market Overview
6.2.1 US: Functional Shots Market, by Product
6.2.2 US: Functional Shots Market, by Distribution Channel
6.3 Market Positioning – Key Market Players
7. US & LATAM Functional Shots Market Analysis – By Product
7.1 Overview
7.2 US & LATAM Functional Shots Market, By Product (2019 and 2027)
7.3 Energy
7.3.1 Overview
7.3.2 Energy : US & LATAM Functional Shots Market Analysis and Forecast to 2027
7.4 Immunity
7.4.1 Overview
7.4.2 Immunity : US & LATAM Functional Shots Market Analysis and Forecast to 2027
7.5 Detox
7.5.1 Overview
7.5.2 Detox : US & LATAM Functional Shots Market Analysis and Forecast to 2027
7.6 Others
7.6.1 Overview
7.6.2 Others: US & LATAM Functional Shots Market Analysis and Forecast to 2027
8. US & LATAM Functional Shots Market Analysis – By Distribution Channel
8.1 Overview
8.2 US & LATAM Functional Shots Market, By Distribution Channel (2019 and 2027)
8.3 Hypermarkets and Supermarkets
8.3.1 Overview
8.3.2 Hypermarkets and Supermarkets : US & LATAM Functional Shots Market Analysis and Forecast to 2027
8.4 Convenience Stores
8.4.1 Overview
8.4.2 Convenience Stores : US & LATAM Functional Shots Market – Market Analysis and Forecast to 2027
8.5 Online
8.5.1 Online : US & LATAM Functional Shots Market Analysis and Forecast to 2027
8.6 Others
8.6.1 Others: US & LATAM Functional Shots Market Analysis and Forecast to 2027
9. Impact of COVID-19 Pandemic on US & LATAM Functional Shots Market
9.1 Overview
9.1.1 US & Latin America : Impact Assessment of COVID-19 Pandemic
10. Industry Landscape
10.1 Product Development
10.2 Partnership
11. Key Company Profiles
11.1 Boise Juice Co.
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 Ethan's
11.2.1 Key Facts
11.2.2 Business Description
11.2.2.1 Products and Services
11.2.3 Financial Overview
11.2.4 SWOT Analysis
11.3 Hawaiian OLA
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.4 KOR SHOTS
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.5 Lumen
11.5.1 Key Facts
11.5.2 Business Description
11.5.2.1 Products and Services
11.5.3 Financial Overview
11.5.4 SWOT Analysis
11.6 LXR Biotech, LLC.
11.6.1 Key Facts
11.6.2 Business Description
11.6.2.1 Products and Services
11.6.3 Financial Overview
11.6.4 SWOT Analysis
11.7 Project Juice
11.7.1 Key Facts
11.7.2 Business Description
11.7.2.1 Products and Services
11.7.3 Financial Overview
11.7.4 SWOT Analysis
11.8 Sofresco USA
11.8.1 Key Facts
11.8.2 Business Description
11.8.2.1 Products and Services
11.8.3 Financial Overview
11.8.4 SWOT Analysis
11.8.5 Key Developments
11.9 SUJA LIFE, LLC
11.9.1 Key Facts
11.9.2 Business Description
11.9.2.1 Products and Services
11.9.3 SWOT Analysis
11.10 Vive-Organic, INC.
11.10.1 Key Facts
11.10.2 Business Description
11.10.2.1 Products and Services
11.10.3 Financial Overview
11.10.4 SWOT Analysis
11.10.5 Key Developments
12. Appendix
12.1 About The Insight Partners
12.2 Glossary of Terms
LIST OF TABLES
Table 1. LATAM Functional Shots Market – Volume and Forecast to 2027 (Million Units)
Table 2. LATAM Functional Shots Market – Revenue and Forecast to 2027 (US$ Mn)
Table 3. LATAM Functional Shots Market, by Product– Volume and Forecast to 2027 (Million Units)
Table 4. LATAM Functional Shots Market, by Product– Revenue and Forecast to 2027 (US$ Mn)
Table 5. LATAM Functional Shots Market, by Distribution Channel– Volume and Forecast to 2027 (Million Units)
Table 6. LATAM Functional Shots Market, by Distribution Channel– Revenue and Forecast to 2027 (US$ Mn)
Table 7. Mexico Functional Shots Market, by Product – Volume and Forecast to 2027 (Million Units)
Table 8. Mexico Functional Shots Market, by Product – Revenue and Forecast to 2027 (US$ Mn)
Table 9. Mexico Functional Shots Market, by Distribution Channel – Volume and Forecast to 2027 (Million Units)
Table 10. Mexico Functional Shots Market, by Distribution Channel – Revenue and Forecast to 2027 (US$ Mn)
Table 11. Peru Functional Shots Market, by Product – Volume and Forecast to 2027 (Million Units)
Table 12. Peru Functional Shots Market, by Product – Revenue and Forecast to 2027 (US$ Mn)
Table 13. Peru Functional Shots Market, by Distribution Channel – Volume and Forecast to 2027 (Million Units)
Table 14. Peru Functional Shots Market, by Distribution Channel – Revenue and Forecast to 2027 (US$ Mn)
Table 15. Ecuador Functional Shots Market, by Product – Volume and Forecast to 2027 (Million Units)
Table 16. Ecuador Functional Shots Market, by Product – Revenue and Forecast to 2027 (US$ Mn)
Table 17. Ecuador Functional Shots Market, by Distribution Channel – Volume and Forecast to 2027 (Million Units)
Table 18. Ecuador Functional Shots Market, by Distribution Channel – Revenue and Forecast to 2027 (US$ Mn)
Table 19. Colombia Functional Shots Market, by Product – Volume and Forecast to 2027 (Million Units)
Table 20. Colombia Functional Shots Market, by Product – Revenue and Forecast to 2027 (US$ Mn)
Table 21. Colombia Functional Shots Market, by Distribution Channel – Volume and Forecast to 2027 (Million Units)
Table 22. Colombia Functional Shots Market, by Distribution Channel – Revenue and Forecast to 2027 (US$ Mn)
Table 23. Rest of LATAM Functional Shots Market, by Product – Volume and Forecast to 2027 (Million Units)
Table 24. Rest of LATAM Functional Shots Market, by Product – Revenue and Forecast to 2027 (US$ Mn)
Table 25. Rest of LATAM Functional Shots Market, by Distribution Channel – Volume and Forecast to 2027 (Million Units)
Table 26. Rest of LATAM Functional Shots Market, by Distribution Channel – Revenue and Forecast to 2027 (US$ Mn)
Table 27. US & LATAM: Functional Shots Market – Volume and Forecast to 2027 (Million Units)
Table 28. US & LATAM: Functional Shots Market – Revenue and Forecast to 2027 (US$ Mn)
Table 29. US Functional Shots Market – Volume and Forecast to 2027 (Million Units)
Table 30. US Functional Shots Market – Revenue and Forecast to 2027 (US$ Mn)
Table 31. US Functional Shots Market, by Product– Volume and Forecast to 2027 (Million Units)
Table 32. US Functional Shots Market, by Product– Revenue and Forecast to 2027 (US$ Mn)
Table 33. US Functional Shots Market, by Distribution Channel– Volume and Forecast to 2027 (Million Units)
Table 34. US Functional Shots Market, by Distribution Channel– Revenue and Forecast to 2027 (US$ Mn)
Table 35. Glossary of Terms, Functional Shots Market
LIST OF FIGURES
Figure 1. Functional Shots Market Segmentation
Figure 2. Functional Shots Market Segmentation – By Geography
Figure 3. US & LATAM Functional Shots Market Overview
Figure 4. Energy Segment Held Largest Share of US & LATAM Functional Shots Market
Figure 5. US is Expected to Show Remarkable Traction During the Forecast Period
Figure 6. US & LATAM Functional Shots Market, Industry Landscape
Figure 7. LATAM: Functional Shots Market– Volume and Forecast to 2027 (Million Units)
Figure 8. LATAM: Functional Shots Market– Revenue and Forecast to 2027 (US$ Mn)
Figure 9. LATAM: Functional Shots Market Revenue Share, by Key Country (2019 and 2027)
Figure 10. Mexico: Functional Shots Market– Volume and Forecast to 2027 (Million Units)
Figure 11. Mexico: Functional Shots Market– Revenue and Forecast to 2027 (US$ Mn)
Figure 12. Peru: Functional Shots Market– Volume and Forecast to 2027 (Million Units)
Figure 13. Peru: Functional Shots Market– Revenue and Forecast to 2027 (US$ Mn)
Figure 14. Ecuador: Functional Shots Market– Volume and Forecast to 2027 (Million Units)
Figure 15. Ecuador: Functional Shots Market–Revenue and Forecast to 2027 (US$ Mn)
Figure 16. Colombia: Functional Shots Market– Volume and Forecast to 2027 (Million Units)
Figure 17. Colombia: Functional Shots Market– Revenue and Forecast to 2027 (US$ Mn)
Figure 18. Rest of LATAM: Functional Shots Market– Volume and Forecast to 2027 (Million Units)
Figure 19. Rest of LATAM: Functional Shots Market–Revenue and Forecast to 2027 (US$ Mn)
Figure 20. Impact Analysis of Drivers And Restraints
Figure 21. US & LATAM: Functional Shots Market– Volume and Forecast to 2027 (Million Units)
Figure 22. US & LATAM: Functional Shots Market– Revenue and Forecast to 2027 (US$ Mn)
Figure 23. US: Functional Shots Market– Volume and Forecast to 2027 (Million Units)
Figure 24. US: Functional Shots Market– Revenue and Forecast to 2027 (US$ Mn)
Figure 25. US & LATAM Functional Shots Market Revenue Share, By Product (2019 and 2027)
Figure 26. Energy : US & LATAM Functional Shots Market – Volume And Forecast To 2027 (Million Units)
Figure 27. Energy : US & LATAM Functional Shots Market – Revenue And Forecast To 2027 (US$ Mn)
Figure 28. Immunity : US & LATAM Functional Shots Market – Volume And Forecast To 2027 (Million Units)
Figure 29. Immunity : US & LATAM Functional Shots Market – Revenue And Forecast To 2027 (US$ Mn)
Figure 30. Detox : US & LATAM Functional Shots Market – Volume And Forecast To 2027 (Million Units)
Figure 31. Detox : US & LATAM Functional Shots Market – Revenue And Forecast To 2027 (US$ Mn)
Figure 32. Others: US & LATAM Functional Shots Market –Volume And Forecast To 2027 (Million Units)
Figure 33. Others : US & LATAM Functional Shots Market – Revenue And Forecast To 2027 (US$ Mn)
Figure 34. US & LATAM Functional Shots Market Revenue Share, By Distribution Channel (2019 and 2027)
Figure 35. Hypermarkets and Supermarkets : US & LATAM Functional Shots Market – Volume And Forecast To 2027 (Million Units)
Figure 36. Hypermarkets and Supermarkets : US & LATAM Functional Shots Market – Revenue And Forecast To 2027 (US$ Mn)
Figure 37. Convenience Stores : US & LATAM Functional Shots Market –Volume And Forecast To 2027 (Million Units)
Figure 38. Convenience Stores : US & LATAM Functional Shots Market – Revenue And Forecast To 2027 (US$ Mn)
Figure 39. Online : US & LATAM Functional Shots Market – Volume And Forecast To 2027 (Million Units)
Figure 40. Online : US & LATAM Functional Shots Market – Revenue And Forecast To 2027 (US$ Mn)
Figure 41. Others: US & LATAM Functional Shots Market – Volume And Forecast To 2027 (Million Units)
Figure 42. Others: US & LATAM Functional Shots Market – Revenue And Forecast To 2027 (US$ Mn)
Figure 43. Impact of COVID-19 Pandemic in US & LATAM Market
The List of Companies - US & LATAM Functional Shots Market
- Boise Juice Co.
- Ethan's
- Hawaiian OLA
- KOR SHOTS
- Lumen
- LXR Biotech, LLC.
- Project Juice
- Sofresco USA
- SUJA LIFE, LLC
- Vive-Organic, INC.
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the US & LATAM functional shots market.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the US & LATAM functional shots market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth US & LATAM market trends and outlook coupled with the factors driving the US & LATAM functional shots market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution